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TANDEM FEDERAL CREDIT UNION

Mar, 31, 2022 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $25.83 million in total assets. Opened 81 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,571 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TANDEM FEDERAL CREDIT UNION
Address:
(Main Office)
21043 Mound Rd
WARREN, MI 48091-2903
Phone:(586) 759-5050
Fax:(586) 759-5053
Website:http://www.tandemfcu.com
Branches:1 branch locations
Members:2,571
Credit Union Type:Federal Credit Union
Charter Number:4787
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1941
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$25,829,843
CEO/Manager:Deirdre Taylor
Chairperson:Patricia Swann-Brown

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,550,948
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,834,501
 Unsecured Loans 1,547,667
 Other Loans 3,857,136
 TOTAL LOANS 7,239,304
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -57,537
 Land And Building 236,442
 Other Fixed Assets 117,927
 NCUSIF Deposit 201,581
 All Other Assets 0
  TOTAL ASSETS 25,829,843
LIABILITIES & CAPITAL:  
 Dividends Payable 1,088
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 120,300
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,723,271
 Regular shares 18,260,544
 All Other Shares & Deposits 1,382,132
  TOTAL SHARES & DEPOSITS 22,365,947
  TOTAL LIABILITIES 22,487,335
 Regular Reserve 0
 Other Reserves -780,730
 Undivided Earnings 4,123,238
  TOTAL EQUITY 3,342,508
  TOTAL LIABILITIES, SHARES, & EQUITY 25,829,843
INCOME & EXPENSE  
 Loan Income 118,625
 Investment Income 57,071
 Other Income 59,421
 Total Employee Compensation & Benefits 84,892
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 169,289
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 361
 Cost of Funds 7,742
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,301
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